Common use of Obligations of Lessee Hereunder Unconditional Clause in Contracts

Obligations of Lessee Hereunder Unconditional. Subject to the provisions of Section 9.7 hereof, the obligations of the Lessee to make the payments required in Section 5.3(a) hereof shall be absolute and unconditional and shall not be subject to diminution by set-off, counterclaim, abatement or otherwise. Until such time as the principal of, premium, if any, and interest on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, the Lessee (i) will not suspend or discontinue any payments provided for in Section 5.3(a) hereof except to the extent the same have been prepaid, and (ii) except as provided in Sections 11.1 and 11.5 hereof, will not terminate the Agreement Term for any cause, including, without limiting the generality of the foregoing, failure of the Issuer to complete the Project Construction, failure of the Issuer's title to the Project or any part thereof, any acts or circumstances that may constitute failure of consideration, eviction or constructive eviction, destruction of or damage to the Project, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State of Georgia or any political subdivision of either thereof or any failure of the Issuer to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Lease. Nothing contained in this Section shall be construed to release the Issuer from the performance of any of the agreements on its part herein contained; and in the event the Issuer should fail to perform any such agreement on its part, the Lessee may institute such action against the Issuer as the Lessee may deem necessary to compel performance or recover its damages for nonperformance so long as such action shall not do violence to the agreements on the part of the Lessee contained in the preceding sentence. The Lessee may, however, at its own cost and expenses and in its own name or in the name of the Issuer, prosecute or defend any action or proceeding or take any other action involving third persons which the Lessee deems reasonably necessary in order to insure the acquisition, construction and equipping of the Project or to secure or protect its right of possession, occupancy and use hereunder, and in such event the Issuer hereby agrees to cooperate fully with the Lessee and to take all action necessary to effect the substitution of the Lessee for the Issuer in any such action or proceeding if the Lessee shall so request.

Appears in 2 contracts

Samples: Lease Agreement (Adesa Inc), Lease Agreement (Allete Inc)

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Obligations of Lessee Hereunder Unconditional. Subject to the provisions of Section 9.7 hereof, the obligations of the Lessee to make the payments required in Section 5.3(a) hereof shall be absolute and unconditional and shall not be subject to diminution by set-off, counterclaim, abatement or otherwise. Until such time as the principal of, premium, if any, and interest on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, the Lessee (i) will not suspend or discontinue any payments provided for in Section 5.3(a) hereof except to the extent the same have been prepaid, and (ii) except as provided in Sections 11.1 and 11.5 hereof, will not terminate the Agreement Term for any cause, including, without limiting the generality of the foregoing, failure of the Issuer to complete the Project Construction, failure of the Issuer's ’s title to the Project or any part thereof, any acts or circumstances that may constitute failure of consideration, eviction or constructive eviction, destruction of or damage to the Project, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State of Georgia or any political subdivision of either thereof or any failure of the Issuer to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this Lease. Nothing contained in this Section shall be construed to release the Issuer from the performance of any of the agreements on its part herein contained; and in the event the Issuer should fail to perform any such agreement on its part, the Lessee may institute such action against the Issuer as the Lessee may deem necessary to compel performance or recover its damages for nonperformance so long as such action shall not do violence to the agreements on the part of the Lessee contained in the preceding sentence. The Lessee may, however, at its own cost and expenses and in its own name or in the name of the Issuer, prosecute or defend any action or proceeding or take any other action involving third persons which the Lessee deems reasonably necessary in order to insure the acquisition, construction and equipping of the Project or to secure or protect its right of possession, occupancy and use hereunder, and in such event the Issuer hereby agrees to cooperate fully with the Lessee and to take all action necessary to effect the substitution of the Lessee for the Issuer in any such action or proceeding if the Lessee shall so request.

Appears in 1 contract

Samples: Lease Agreement (Adesa California, LLC)

Obligations of Lessee Hereunder Unconditional. Subject to the provisions of Section 9.7 hereof, the The obligations of the Lessee to make the Rent, the Additional Payments and any other payments required of the Lessee under this Agreement and to perform and observe the other agreements on its part contained in Section 5.3(a) hereof this Agreement shall be absolute and unconditional and shall not be subject to diminution by set-off, counterclaim, abatement or otherwise. Until such time as the principal of, premium, if anyunconditional, and interest on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, the Lessee (ia) shall make such payments without abatement, diminution or deduction, regardless of any cause or circumstances whatsoever, including, without limitation, any defense, setoff, recoupment or counterclaim which the Lessee may have or assert against the Issuer, the Trustee, or any other Person, (b) shall not suspend or discontinue, or permit the suspension or discontinuance of, any such payments, (c) will not suspend or discontinue any payments provided for in Section 5.3(a) hereof except fail to the extent the same have been prepaid, perform and observe such other agreements and (iid) except as provided in Sections 11.1 and 11.5 Section 8.02 hereof, will shall not terminate the Agreement Lease Term for any cause, including, without limiting the generality of the foregoing, failure of the Issuer to complete the Project Construction, failure of the Issuer's title to the Project or any part thereofProject, any acts or circumstances that may constitute failure of consideration, eviction or constructive eviction, destruction of or damage to the Project, commercial frustration of purpose, any change in the tax or other laws or administrative rulings of or administrative actions by the United States of America or of the State of Georgia or any political subdivision of either thereof either, or any failure of the Issuer to perform and observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or connected with this LeaseAgreement, whether express or implied. Nothing contained in this Section shall be construed to release the Issuer from the performance of any of the agreements on its part herein contained; and and, in the event the Issuer should fail fails to perform any such agreement on its part, the Lessee may institute such action against the Issuer as the Lessee may deem necessary to compel performance or recover its damages for nonperformance so long as performance, provided that no such action shall not do violence to violate the agreements on the part of the Lessee contained in the preceding sentencefirst sentence of this Section or diminish the amounts required to be paid by the Lessee pursuant to Section 5.01 or 5.02 hereof. The Lessee may, however, at its own cost and expenses expense and in its own name or in the name of the Issuer, prosecute or defend any action or proceeding or take any other action involving third persons which the Lessee deems reasonably necessary in order to insure the acquisition, construction and equipping of the Project or to secure or protect its right of possession, occupancy and use hereunder, and in such event the Issuer hereby agrees (at the sole risk and expense of the Lessee) to cooperate fully with the Lessee and to take all action reasonably necessary to effect the substitution of the Lessee for the Issuer in any such action or proceeding if the Lessee shall so requestrequests.

Appears in 1 contract

Samples: Lease Agreement

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Obligations of Lessee Hereunder Unconditional. Subject to the provisions of Section 9.7 hereof, the The obligations of the Lessee to make the payments required in Section 5.3(a) 4.3 hereof and to perform and observe the other agreements on its part contained herein shall be absolute and unconditional and shall not be subject to diminution by set-off, counterclaim, abatement or otherwise. Until otherwise and until such time as the principal of, premium, if any, of and interest and any redemption premium on the Bonds shall have been fully paid or provision for the payment thereof shall have been made in accordance with the Indenture, the Lessee (i) will not suspend or discontinue any payments provided for in Section 5.3(a4.3 hereof, (ii) hereof except to the extent the same have been prepaid, will perform and observe all of its other agreements contained in this Agreement and (iiiii) except as provided in Sections 11.1 and 11.5 hereof, Section 10.1 will not terminate the Agreement Lease Term for any cause, cause including, without limiting the generality of the foregoing, failure of the Issuer to complete the Project Construction, failure of the Issuer's title to the Project or any part thereof, any acts or circumstances that may constitute failure of consideration, eviction or constructive eviction, destruction of or damage to the ProjectLeased Facilities, condemnation of the Leased Facilities, commercial frustration of purpose, any change in the tax or other laws of the United States of America or of the State of Georgia or any political subdivision of either thereof either, or any failure of the Issuer Lessor to perform and observe any agreement, whether express expressed or implied, or any duty, liability or obligation arising out of or connected with this LeaseAgreement. Nothing contained in this Section shall be construed to release the Issuer Lessor from the performance of any of the agreements on its part herein contained; and in the event the Issuer Lessor should fail to perform any such agreement on its part, the Lessee may institute such action against the Issuer Lessor as the Lessee may deem necessary to compel performance or recover its damages for nonperformance non-performance so long as such action shall not do violence to the agreements on the part of the Lessee contained in the preceding sentencefirst sentence of this Section; provided, however, that the Lessor shall not be liable for monetary damages absent its wilful breach of this Agreement, wilful misconduct, bad faith or fraud and in no event shall any recourse be had against the Lessor other than from the Trust Estate. The Lessee may, however, at its own cost and expenses expense and in its own name or in the name of the IssuerLessor, prosecute or defend any action or proceeding or take any other action involving third their persons which the Lessee deems reasonably necessary in order to insure the acquisition, construction and equipping of the Project or to secure or protect its right of possession, occupancy and use hereunder, and in such event the Issuer Lessor hereby agrees to cooperate fully with the Lessee and to take all action necessary to effect the substitution of the Lessee for the Issuer Lessor in any such action or proceeding if the Lessee shall so request. The covenant to pay rental shall be and is hereby agreed to be independent of any other covenant in this Agreement.

Appears in 1 contract

Samples: Lease Agreement (Conrad Industries Inc)

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